Our editors will be looking ahead today to these developing stories ...
Ex-development chief to report back to ICAC
Former secretary for development Mak Chai-kwong (pictured) is due to report back to the ICAC tomorrow for further questioning by the graft-busters over a cross-leasing scandal. Mak, assistant director of highways Tsang King-man, from whom Mak leased his flat in the 1980s, and their wives were arrested last month on suspicion of violating the Prevention of Bribery Ordinance by claiming government housing allowances. Mak resigned on July 12, only 12 days after his appointment by Chief Executive Leung Chun-ying.
Statistics bureau to report on mainland CPI
Last month, the National Statistics Bureau reported that the mainland's consumer price inflation (CPI) had cooled more than expected to its lowest level in nearly two and a half years, reflecting weak demand and pointing to more policy easing in the months ahead. The CPI rose 2.2 per cent in June from a year earlier, the slowest pace since early 2010, and down from a 3 per cent rise in May, according to the bureau. Analysts expect it will slide further, to 1.7 per cent, the lowest in 30 months.
Manchester United to disclose IPO goal
The company that owns Manchester United, and its shareholders the Glazer family, are scheduled to price their IPO for the English soccer team. The sale will offer 16.7 million shares at US$16-US$20 each and aims to raise as much as US$333 million, according to a regulatory filing. The New York IPO values the club at about US$4.50 per follower, according to data compiled by Bloomberg. The midpoint of the offering range would value the club at US$2.95 billion.
Causeway Bay's Hysan Place opening its doors
Hysan Place, the new shopping mall in Causeway Bay, opens its door to the media tomorrow. The building's 450,000 square foot shopping arcade has been fully let and is expected to draw 100,000 shopper visits a day from Saturday. The occupancy rate of the office area has remained at only 40 per cent - the same level as the middle of May. Hysan Development, the biggest landlord in Causeway Bay, says it remains confident about the outlook for the office market.
US and Vietnam to clean up Agent Orange
Vietnamese and US administration officials will hold a groundbreaking ceremony to mark the start of a joint project to clean up the Agent Orange contamination at Da Nang airport, a former US airbase. During the Vietnam war the US military sprayed the defoliant to clear millions of hectares of vegetation. However, Agent Orange contains the toxic chemical dioxin, and has been linked to diseases such as diabetes, cancer and birth defects. The US embassy in Hanoi says the clean-up project will cost US$43 million.
Court to hear 'red shirts' terror charges
A Bangkok court is expected to resume hearing terrorism charges against 23 members of Thailand's 'red shirt' movement, in the wake of the deadly unrest that gripped Bangkok two years ago. Anti-government protests in April and May 2010 led by the red shirts triggered clashes between demonstrators and Thai troops that left at least 90 people dead - mostly civilians - and nearly 1,900 injured. The kingdom remains deeply divided.